Crypto Trading 101: Pep Talk 加密货币交易101: 序幕
Before you start buying your first crypto, here’s what you need to know. 在您开始购买第一个加密货币之前，您需要了解以下内容。
Before trading or investing in crypto, there are a few important things to take note of. Dive into these 5 points before diving in with your money.
Research, and Research More
The crypto community advocates Do Your Own Research (DYOR), as a reminder to always investigate thoroughly into the coins and tokens you are interested in before you buy or trade with them. While the final investment is your personal choice, it’s advisable to arm yourself with in-depth knowledge before committing.
One of the easiest ways for newbies to start researching is by joining cryptocurrency Telegram groups or BItcoinTalk forums to get real feedback from others who are already trading. Also head to YouTube, Quora, Twitter, and cryptocurrency subreddits.
In any form of investment, do not put all your eggs in one basket. Especially in the volatile cryptocurrency market, putting all your money in one could mean losing all of it. Investing in a few coins and tokens can mitigate huge losses. However, do not spread your buys too wide as it may result in a small profit margin. You are more likely to find success trading in two to three. Also consider hedging in this volatile market: crypto pioneers like Bitcoin (BTC) and Ethereum (ETH) are sound options to hedge against altcoins, but remember, DYOR before committing to altcoins.
Eliminate FUD & FOMO
Fear, Uncertainty, and Doubt (FUD) is a crucial factor that determines if a crypto trader will be successful, or not. This is a personal mindset that can be managed with DOYR, and going with your gut feeling. Although weighing the opinions of others is important, beware of giving in to resulting FUD from conflicting information.
Another mindset to overcome is Fear Of Missing Out (FOMO), defined as “a pervasive apprehension that others might be having rewarding experiences from which one is absent”. Comparison is inevitable when you begin “connecting” with others in the crypto market. FOMO can be detrimental to your goals and decisions. It is advisable to recognise it and deal with this as quickly as possible so that you can continue to trade with confidence.
Invest what you can lose
Crypto is an extremely volatile market that provides high rewards for high risks taken. However, do not be greedy — only invest money that you are willing to lose. When you trade outside of what you’re comfortable with and can afford, even taking loans or overdrafting on credit, you are stepping into a dangerous zone.
HODL or Swing Strategy
HODL means to hold on to your tokens versus selling and cashing out when the market dips. This strategy calls for waiting out bear markets and making informed decisions in trading digital assets. It is a strategy that 99% of successful crypto investors and traders advocate, as it generally results in better results in the long term.
On the other end, traders who Swing buy and sell tokens quickly — weeks, days, minutes — for short term profits. Their focus is on the token’s speculations or technical factors, rather than its long term prospects, and how they can profit quickly from the token’s next move.
It is important to understand your trading strategy, HODL or Swing before you begin trading.
*** Disclaimer: This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to risk.
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另一方面， 摇摆策略(Swing trade)的交易者迅速（几周，几天，几分钟）买卖代币以获取短期利润。他们的重点是代币的投机或技术因素，而不是代币的长期前景，以及他们如何从代币的下一步行动中快速获利。
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